Edmond de Rothschild Real Estate Investment Management (REIM) has completed another equity closing in its pan-European High Yield I Real Estate Debt Fund taking the current equity commitment in the Fund to above EUR160 million.
The capital was raised from a large German insurance company and a mix of international investors arranged through the Edmond de Rothschild Private Bank.
The Edmond de Rothschild High Yield I Real Estate Debt Fund is providing whole loans and mezzanine loans secured against real estate collateral across Western Europe. The Fund was launched in November 2020 with a target size of EUR300 million and has invested into four European debt transactions so far with a total loan commitment of approximately EUR145 million. The Fund is targeting circa 8% net IRR including a running coupon 4-5 per cent pa paid out on a quarterly basis.
The Edmond de Rothschild REIM Real Estate Debt Team is also managing a EUR180 million separate fund dedicated to one German institutional investor taking the total capital raised for its European Real Estate Debt Strategies to date to more than EUR340 million.